Multi-Family Townhome-Style
681 Putnam Pike Smithfield, RI 02828
681 Putnam Pike, Smithfield, RI, 02828
$535,000
For Sale
$535,000
Three-floor duplex with a two-bedroom unit on the first floor and townhouse-style living on the second and third floors.
Property Size2,496 SF
Price / SF$214.34
Days on Market21
Property Features for 681 Putnam Pike
General Information
- Standard status
- Active
- Size
- 2,496 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1850
Listing Agency
RE/MAX ONE
(401) 943-6111
Listed by
Keith Antaya · License #1001259
Source
Lockandkeyre
Added: Jul 1 Updated: Jul 20 at 1:54 am Checked: Jul 20 at 1:54 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX ONE
Investment Insights
Based on property information with market context.
This multi-family property is configured as a duplex with a townhouse-style feel. The primary residence spans the second and third floors, providing a private, elevated layout. The first floor features a well-maintained two-bedroom, one-bath unit.
The property is set on an oversized lot and includes two brand-new combination boilers. This update supports reliable heat and hot water service for the near term.
Overall, the building offers two separate living levels within one structure, combining a self-contained first-floor unit with larger, multi-floor living above.
The property is set on an oversized lot and includes two brand-new combination boilers. This update supports reliable heat and hot water service for the near term.
Overall, the building offers two separate living levels within one structure, combining a self-contained first-floor unit with larger, multi-floor living above.
Key Highlights
- Year built 1850
- Three‑floor duplex with a two‑bedroom, one‑bath unit on the first floor
- Second and third floors provide townhouse‑style living as the primary residence
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.5k | $25.44 |
| − Vacancy | −$4.1k | −$1.65 |
| EGI | $59.4k | $23.79 |
| − OpEx | −$17.8k | −$7.14 |
| NOI | $41.6k | $16.65 |
2,496 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$593.7K
$519.5K – $692.7K
NOI $41,560 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$471.2K
$412.3K – $549.7K
NOI $32,983 @ 7.0% cap · market cap 6.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Three-floor duplex with a two-bedroom unit on the first floor and townhouse-style living on the second and third floors.
Where is this duplex located?
The property is located at 681 Putnam Pike Smithfield, RI.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Year built 1850; Three‑floor duplex with a two‑bedroom, one‑bath unit on the first floor; Second and third floors provide townhouse‑style living as the primary residence
